RBI Announcement Update dt. 22/05/2020 for Moratorium of Loan and other relief

1.Term loan moratorium extended till August 31, 2020 - The loan moratorium will be extended till August 31, 2020. This makes it a six months moratorium.

2. Deferement of Interest on Working Capital - Interest on working capital is deferred by another 3 months i.e. till 31st August, 2020.

3. Conversion of Interest on working capital to interest term loan - Lending institutions are being permitted to convert the accumulated interest on working capital facilities over the deferment period (up to August 31, 2020) into a funded interest term loan (Repayable before 31st March, 2021).

4. Margin for Working Capital - Drawing Power - Lending institutions are being permitted to restore the margins for working capital to the original level by 31st March, 2021.